Luminar to go public following multibillion-dollar merger

Autonomous vehicle tech firm Luminar plans to go public after a $3.4 billion merger, which will spur more engineering and manufacturing work at its Orlando facility.

Luminar Technologies Inc. will merge with acquisition firm Gores Metropoulos Inc. (Nasdaq: GMHI), the companies announced Aug. 24. Luminar is receiving $400 million in cash from Gores Metropoulos as well as $170 million in immediate financing from investors that include billionaire entrepreneur and investor Peter Thiel and the Volvo Cars Tech Fund. Read more here